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Corporate PresentationMay 2017

DisclaimerIMPORTANT NOTICE

• This document does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of Capital Drilling Ltd. (the “Company”), nor shall any part of it nor thefact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto, nor does it constitute a recommendation regarding the securities of the Company.

• This document is being supplied to you solely for your information. No reliance may be placed for any purposes whatsoever on the information or opinions contained in this document or on its completeness. No representation orwarranty, express or implied, is given by or on behalf of the Company or any of its directors, officers or employees or any other person as to the accuracy or completeness of the information or opinions contained in this document andno liability whatsoever is accepted by the Company or any of its members, directors, officers or employees nor any other person for any loss howsoever arising, directly or indirectly, from any use of such information or opinions orotherwise arising in connection therewith.

• This document and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose. This document is only addressed toand directed at persons in member states of the European Economic Area who are “qualified investors” within the meaning of Article 2(1)(e) of the Prospectus Directive (Directive 2003/71/EC) (“Qualified Investors”). In addition, in theUnited Kingdom, this document is being distributed only to, and is directed only at, Qualified Investors (i) who have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services andMarkets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) and Qualified Investors falling within Article 49(2)(a) to (d) of the Order, and (ii) to whom it may otherwise lawfully be communicated (all such personstogether being referred to as “relevant persons”). This document must not be acted on or relied on (i) in the United Kingdom, by persons who are not relevant persons, and (ii) in any member state of the European Economic Area otherthan the United Kingdom, by persons who are not Qualified Investors. Any investment or investment activity to which this document relates is available only to (i) in the United Kingdom, relevant persons, and (ii) in any member state ofthe European Economic Area other than the United Kingdom, Qualified Investors, and will be engaged in only with such persons.

• Neither this document nor any copy of it may be taken or transmitted into the United States of America, its territories or possessions or distributed, directly or indirectly, in the United States of America, its territories or possessions.Neither this document nor any copy of it may be taken or transmitted into Australia, Canada, Japan or the Republic of South Africa or to any securities analyst or other person in any of those jurisdictions. Any failure to comply with thisrestriction may constitute a violation of United States, Australian, Canadian, Japanese or South African securities law. The distribution of this document in other jurisdictions may be restricted by law and persons into whose possessionthis document comes should inform themselves about, and observe, any such restrictions.

• The securities mentioned herein have not been, and will not be, registered under the US Securities Act of 1933 (the “Securities Act”), or under the applicable securities laws of Canada, Australia, Japan or the Republic of South Africa, andmay not be offered or sold in the United States (as such term is defined in Regulation S under the Securities Act) unless they are registered under the Securities Act or pursuant to an exemption from, or in a transaction not subject to, theregistration requirements of the Securities Act and, subject to certain exceptions, may not be offered or sold within Canada, Australia, Japan or the Republic of South Africa or to any national, resident or citizen of Canada, Australia,Japan or the Republic of South Africa. No public offer of securities in the Company is being made in the United States, Canada, Australia, Japan or the Republic of South Africa.

• Certain statements, beliefs and opinions in this document are forward-looking, which reflect the Company’s or, as appropriate, the Company’s directors’ current expectations and projections about future events. By their nature,forward-looking statements involve a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks,uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. Forward-looking statements contained in this document regarding past trends or activities should not betaken as a representation that such trends or activities will continue in the future. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, futureevents or otherwise. You should not place undue reliance on forward-looking statements, which speak only as of the date of this document.

• By attending the presentation to which this document relates or by accepting this document you will be taken to have represented, warranted and undertaken that: (i) you are a relevant person (as defined above); (ii) you have read andagree to comply with the contents of this notice; and (iii) you will use the information in this document solely for evaluating your possible interest in the Company and for no other purpose.

2

3

Section 1 – Introduction

Capital Drilling provides complete drilling solutions to customers within the global minerals industry

Introducing Capital Drilling

4 Production Development ExplorationMajors Mid-Tiers Juniors

REVENUE BY MINING PHASEREVENUE BY CUSTOMERREVENUE BY CUSTOMER

4Underground

MAJOR CUSTOMERS• Acacia Mining

• AngloGold Ashanti

• Barrick Gold Corporation

• Centamin

• Kinross Gold

• Nevsun

• Resolute

OVERVIEW• Mineral drilling company

• Commenced operations in Tanzania in 2005

• Listed on LSE in 2010

• African focussed, headquartered in Mauritius

STRATEGIC FOCUS• Africa and emerging markets

focussed (Africa c90% of revenue)

• Blue chip and mid tier clients

• Long-term production contracts

• Gold and base metals focus

SERVICES• Exploration drilling

• Grade control drilling

• Blast hole drilling

• Underground drilling

• Technical services

95%Mid tiers &

Majors Q1 2017

64% Production

and Underground

Q1 2017

Client History

5

Q1 2017 Active Locations

Regional Offices

Previous Registered Offices & Operations

ChileAntofagastaBarrickBHP CMPGlencoreMMGPolar Star

PeruBHP

DRCAnvilTiger

ZambiaAlbidonBarrick GoldEquinoxFirst QuantamMMGOmega

EthiopiaAPMBHP BillitonEthiopia Potash

TanzaniaBarrick GoldCradleGlencore IMXLiontownMagnisMantraMMGRift Valley

PNG & Solomon IslandsAllied GoldBarrick GoldOil SearchSanta Barbara

ArmeniaLydian

PakistanAntofagastaBarrick Gold

EritreaAndiamoChalice GoldSunridge

MauritaniaRedblackKnight Piesold

MaliGhanaKinross

SerbiaDundee

MozambiqueBoababRiversdaleRio Tinto

EgyptGippslandThani Dubai (AngloGold Ashanti)

Kenya

MRL

Botswana

Multi-year production contracts underpin revenue

… c65% of Forecast 2017 Revenue

Current operationsPrevious operations

Tanzania• Commenced operations in 2008

• Blast hole and grade control drilling

• Contract awarded in December

2015, runs to December 2019

(under 2nd year extension option)

Egypt• Commenced operations in 2005

• Blast hole, grade control & delineation drilling

• Contract renewed in 2015 and runs to

December 2020

Tanzania• Commenced operations in 2006

• Blast hole, grade control, exploration,

delineation and underground drilling

• Contract renewed in 2015 and runs to

December 2020

• Major contracts provide stable underlying revenue stream

• Drilling at long-life, low cash cost mine sites

• Potential for expansion opportunities in underground and increased brownfields exploration

6

Rig Fleet

INDUSTRY LEADER IN EQUIPMENT STANDARDS AND FLEET AGE

DIAMOND (EXPLORATION & DELINEATION)

UNDERGROUND

BLAST HOLE

REVERSE CIRCULATION (RC) & GRADE CONTROL (GC)

7

Number of rigs52 (12 deep hole)

Average contract length3 months to 1 year

Q1-2017 utilisation31%

Number of rigs23

Average contract length4 to 5 years


Number of rigs5

Average contract length 1 year


Number of rigs13

Average contract length3 months to 1 year (RC)4 to 5 years (GC)


8

Commodity prices & capital markets

IMPROVING MACRO CONDITIONS DRIVING AN IMPROVEMENT IN DEMAND

GOLD PRICE INDEX1

EQUITY CAPITAL RAISED IN THE MINING SECTOR 2

BASE METALS1 IRON ORE1

2. Source: FactSet (sub US$1bn market capitalisation)

1. Source: Bloomberg (as at 19 Apr 2017)

1000

1050

1100

1150

1200

1250

1300

1350

1400

Jan

16

Feb

16

Mar

16

Apr 1

6

May

16

Jun

16

Jul 1

6

Aug

16

Sep

16

Oct

16

Nov

16

Dec

16

Jan

17

Feb

17

Mar

17

Apr 1

7

Gol

d pr

ice

($/o

z)

-0.20

0.00

0.20

0.40

0.60

0.80

Jan-

16

Feb-

16

Mar

-16

Apr-

16

May

-16

Jun-

16

Jul-1

6

Aug-

16

Sep-

16

Oct

-16

Nov

-16

Dec-

16

Jan-

17

Feb-

17

Mar

-17

Apr-

17

Copper Nickel Zinc

30

40

50

60

70

80

90

Jan-

16

Feb-

16

Mar

-16

Apr-

16

May

-16

Jun-

16

Jul-1

6

Aug-

16

Sep-

16

Oct

-16

Nov

-16

Dec-

16

Jan-

17

Feb-

17

Mar

-17

Apr-

17

$/to

nne

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Equi

ty C

apita

l Rai

sed

(US$

m)

LN CN US AU Other 12-mth moving avg.

9

Section 2 – Trading Update

Q1 2017 Trading Update

10

Q1 2017 Q1 2016 Q4 2016% change from Q1

2016

% change from Q4

2016

Revenue ($mn) 31.6 19.1 27.8 65.4% 13.6%

ARPOR ($) 196,000 181,000 170,000* 8.3% 15.3%

Average utilised rigs 51 34 51 50.0% 0.0%

Fleet Utilitsation (%) 55% 36% 55% 52.8% 0.0%

Average Fleet 93 94 94 -1.1% -1.1%

Closing fleet size 93 94 92 -1.1% 1.1%

• Strongest Q1 revenue since 2013

• Continued growth in demand with multiple exploration contracts“re-awarded” over Q1

• Production drilling continues to perform strongly with expansionopportunities at the Geita Mine in Tanzania and new growth atMowana in Botswana

• Management focus over Q1 directed toward;- Commissioning new replacement rigs at North Mara & Sukari- Commencing multiple exploration drilling contracts in

Mauritania and Egypt- Ongoing business development with the improved tendering

market

• Reported 2016 full year results on March 16, 2017- Declared a final dividend of US1.0cps for 2016 financial year,

payable on May 19, 2017* restated

Revenue Metrics

11

ARPOR

REVENUE• Revenue of $31.6 million, representing;- 13.6% growth on Q4 2016- 65.4% on Q1 2016

• Strongest Q1 revenue since 2013

• Utilisation continuing to firm with improved market conditions, particularly inexploration and delineation

• Improved ARPOR reflecting greater consistency in exploration & strongproduction performance

• Improved market conditions continue into Q2

UTILISATION

75% 78%

64%

46% 45%41%

34% 35%40%

49%55%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 H2 15 H1 16 H2 16 Q1 17

197187

192

164

193184 189 188

175

177

196

100

120

140

160

180

200

220

H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 H2 15 H1 16 H2 16 Q1 17

‘000

36.00 40.92 38.34

21.73 26.12 23.63 19.12 20.85 19.10 23.8031.59

43.06 38.9134.35

21.8527.68

21.5019.83 18.90 22.60

27.80

0.00

10.00

20.00

30.00

40.00

50.00

60.00

70.00

80.00

90.00

H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 H2 15 H1 16 H2 16 Q1 17

USD million

Q1 2017 Exploration Contract Wins

12

NEW CONTRACT AWARDS FROM EXISTING CUSTOMERS, EXISTING COUNTRIES

Egypt

• 1 diamond rig• Commenced

February 2017

Mauritania

• 1 diamond and 1 reverse circulation

• Commenced February 2017

Mauritania

• 1 reverse circulation rig

• Commenced April2017

Mauritania

• 1 diamond rig• Commencing Q2

2017

Egypt

• 1 diamond rig• Commencing Q2

2017

Mining Resources Limited

Tanzania

• 2 rigs• Completed program

over Q1

Q1 2017 Production Update

13

GROWING THE PRODUCTION CONTRACTS

FLEET REPLACMENT

• 3 new production rigs at Sukari andNorth Mara (2016 CAPEX)

• Active fleet management to maintainindustry leading standards

GROWTH: NEW OPPORTUNITIES

• Botswana production win (Alecto’sMowana Project)

GROWTH: EXISTING OPERATIONS

• Additional underground rig at Geita, commenced Q1 2017

• Commenced grade control drilling at Tasiast in April

• Additional blast hole rig at Geita, delivery in Q2 2017

• 2017 CAPEX

Rig 125 - Alecto MowanaRig 121 - Sukari UG Rig 124 - Geita

Recovering Market …

14

Q1 / Q2 2016 Q2 / Q3 2016 Q3 / Q4 2016 Q4 2016 / Q1 2017

Small scale exploration contracts return

Exploration renewalsand initial delineationcontracts

Exploration expansionand delineation “ramp-up”

Increased investment intoestablished mines

• Aton (Egypt): 1 diamond rig, commenced March 2016

• Algold (Mauritania): 1 multi-purpose rig, commenced May 2016

• Resolute ( Mali): 1 diamond rig, commenced August 2016

• Nevsun (Serbia): 4 deep hole exploration directional drilling rigs, commenced early August 2016

• Acacia (West Kenya): 3 diamond rigs , commenced September 2016

• Nevsun (Serbia): 2 diamond rigs, commenced October 2016

• Resolute (Mali): Additional 1 diamond and 1 reverse circulation rig

• Anglo Gold Ashanti (Tanzania): 1 underground rig commenced January 2017

• Anglo Gold Ashanti (Tanzania): Additional blast hole rig due for delivery Q2 2017

Growth Strategy

Deliver World Class Performance

• Maintain core long term contracts• Drilling solutions provider• Maintain fleet operational readiness

Expand Existing Contracts

• Increasing budgets particularly in exploration and delineation

• Mature open pit operations trending to underground

• Life cycle: Exploration -> Prefeasibility -> Delineation -> Production -> Underground

Geographic Expansion

• Proximity to existing countries• East Africa – Kenya, Ethiopia• West Africa - Mali, Burkina Faso, Cote

d’Ivoire• Client driven - Serbia

Expand Underground Services

• Expand capability• Extend service offering through JV

Target Owner Operators

• Purchase or manage client owned fleets

Strategic Partnerships

• A2 Global Ventures trading as MS Analytical

• Orica – Extend service offer˗ Crushing at pit˗ Total Package – Design / Rigs / Drill & Blast

STRATEGIC FOCUS AREAS

MORE THAN A DRILLING PROVIDER

EXISTING

Increase Utilisation

NEW

Revenue Stream

15

Section 3 – Conclusion

16

Return to Growth

17

• Cash generative business underpinned by long term contracts with blue chip customers

• Rig utilization growing at fastest rate for 5 years

• Strong balance sheet with net cash to fund next phase of growth

• Youngest rig fleet in the industry

• Strong leverage to gold and Africa

• Focus on shareholder returns through strong dividend policy

• Exploration drilling budgets increasing

• Significant increase in Gold activity

• Positive indicators in Copper & Zinc

• Majors now looking to invest in existing assets, meaning more development drilling, underground development & brownfields exploration

• Increased investment in East & West Africa

MACRO STRENGTHS CAPITAL DRILLING STRENGTHS

UNIQUELY POSITIONED AS THE INDUSTRY RETURNS TO GROWTH

Capital Drilling and Competitors

Footnote:• The share price data is as of 28 April 2017 and sourced from FactSet. Other data sourced from company financial reports.• The CAPD yield is calculated using the final dividend of 1.0c for the year to 31 Dec 2016 and the interim dividend of 1.5c for the six months to 30 June 2016, translated at a GBP: USD exchange rate of 1.30 prevailing on 28 April 2017.• 2017 earnings as per finncap’s estimate as at 28 April 2017

Company TickerPrice Mkt. Cap. Cash Debt Net Cash Ent. Val. EBITDA (US$m) EV / EBITDA (x) P / Book Div. Yield Perf. 12-

Mth

(local) (US$m) (US$m) (US$m) (US$m) (US$m) 2016a 2017e 2016a 2017e (x) (%) (%)

Ausdrill ASL-AU 1.37 318.8 158.3 296.8 (138.5) 457.3 88.2 118.5 5.2x 3.9x 0.7x 1.5% 184.4%

Boart Longyear BLY-AU 0.04 31.2 59.3 681.3 (622.0) 712.7 (4.9) n/a n/a n/a n/a - -50.0%

Energold Drilling EGD-CA 0.47 18.6 14.0 16.9 (3.0) 20.5 (4.1) 5.3 n/a 3.9x 0.4x - -60.6%

Foraco International FAR-CA 0.36 23.9 6.2 109.5 (103.3) 132.5 7.9 n/a 16.7x n/a 0.3x - -21.9%

Geodrill GEO-CA 2.11 65.6 9.3 4.4 5.0 60.6 19.4 23.1 3.1x 2.6x 1.3x - 117.5%

Layne Christensen LAYN-US 7.97 157.8 74.2 161.5 (87.3) 251.2 2.8 46.0 89.1x 5.5x 1.6x - -10.0%

Major Drilling Group MDI-CA 7.57 443.7 27.3 6.5 20.7 423.0 4.7 31.7 89.6x 13.3x 1.4x - -4.7%

Orbit Garant Drilling OGD-CA 1.96 51.6 2.8 9.3 (6.5) 58.2 4.2 9.1 13.8x 6.4x 0.8x - 103.6%

Mean 36.3x 5.9x 0.9x -

Capital Drilling Ltd. CAPD-GB 0.50 87.5 12.7 13.3 0.6 85.5 13.1 20.1 6.5x 4.3x 1.3x 3.9% 53.8%

-100.0%

-50.0%

0.0%

50.0%

100.0%

150.0%

200.0%

250.0%

300.0%

Apr-16 May-16 Jun-16 Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17

BLY-AU MDI-CA LAYN-US ASL-AU FAR-CA OGD-CA EGD-CA GEO-CA CAPD-GB

19

Appendices

2016 Financial Overview

20

• Solid revenue growth in 2016 driven by:- New blast hole drilling contract at the North Mara Gold Mine- Increased exploration & delineation activity, particularly in 2H

• EBITDA improved 30% to $13.1 million

• Profitability impacted by higher costs associated with rig preparation &mobilisations

• Production drilling continues to underpin the Group’s revenue (75%contribution from production drilling)

• 2016 marked the return of exploration activity- Multiple exploration contract wins awarded (refer page 18)

» Tendering pipeline showing signs of improvement

• Declared a final 2016 dividend of US1.0cps (US$1.35 million)

• Maintained a robust balance sheet ending the period with net cash ofUS$0.6 million

Revenue KPIs FY 2016 FY 2015 % change

Average Fleet Size 94 97 -3%

Fleet Utilisation (%) 45% 34% 32%

ARPOR ($) 177,000 188,000 -6%

Reported Earning FY 2016 FY 2015 % change

Revenue ($m) 93.3 78.7 19%

EBITDA ($m) 13.1 10.1 30%

EBIT ($m) (1.4) (4.5) 69%

NPAT ($m) (4.8) (10.2) 53%

Basic EPS (cents) (3.6) (7.6) 53%

Diluted EPS (cents) (3.6) (7.6) 53%

Gross Profit (%) 28.2 28.4 -1%

EBITDA (%) 14.0 12.8 9%

EBIT (%) (1.6) (5.7) 73%

NPAT (%) (5.2) (13.0) 60%

(15.0)

(10.0)

(5.0)

0.0

5.0

10.0

15.0

20.0

Jun-11 Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16Cash Generated from Operations Free Cash Flow

Outstanding cash generation

21

• Solid increase in EBITDA contributing to robust operating profit

• Large reversal in working capital flows with an outflow of US2.5 million, representing the return to exploration drilling

• Increased capital expenditure reflecting new contract wins with specific equipment requirements (deep hole directional rigs & production rigs)

OPERATING CASH FLOW / FREE CASH FLOW

2016 NET CASH MOVEMENTS

Cash Flow FY 2016 FY 2015$m $m

EBITDA 13.1 10.1

Non-cash expenses 1.9 6.7

Operating profit before working capital changes 15.0 16.8

Working capital changes (2.5) 8.8

Cash generated from operations 12.5 25.6

Finance charges and tax payments (2.6) (3.5)

Net cash generated from operating activities 9.9 22.1

Investing Activities

Net cash used in investing activities (11.6) (8.5)

Financing Activities

Movement in long term liabilities 7.0 (10.0)

Dividend paid (5.4) (4.0)

Net cash used in financing activities 1.6 (14.0)

Net increase (decrease) in cash (0.1) (0.4)

Opening cash balance 13.4 14.7

FX on cash (0.5) (0.9)

Closing cash balance 12.8 13.4

22

US$m • Increased Capital Expenditure in 2016, reflecting contract winsand scheduled asset upgrades, specifically;

- Nevsun (Serbia): 3 new rigs to add to the Group’s deep holediamond capability

- Sukari (Egypt): 2 new production rigs as older assets wereretired

- North Mara (Tanzania): 1 new production rig for fleetupgrade

• Substantial program to prepare the exploration fleet, driven bythe improving demand environment

- 31 rigs underwent ‘operational readiness program’- 4 rigs underwent full rebuilds

• Decommissioned 9 rigs

• Active fleet management enables the Group to maintain anaverage fleet age of <5 years

2016 Capital Expenditure

12.415.9

2.6

10.7

3.4 4.1

14.3

14.1

1.7

2.9

4.5

8.7

0.0

5.0

10.0

15.0

20.0

25.0

30.0

FY 11 FY 12 FY 13 FY 14 FY 15 FY 16H1 Capex H2 Capex Depreciation

Our balance sheet is strong

23

GROSS DEBT vs NET (CASH) DEBT TO EQUITY (%)

• Maintained strong balance sheet˗ Net cash at December 31 2016 of $0.6 million

• Cash reduced due to elevated capital expenditure and a modest workingcapital outflow

• Retained banking facility for funding flexibility˗ Facility size $20 million with tenure to January 2018

• The company will continue to maintain a conservative approach togearing

Balance SheetFY 2016 FY 2015 Change

$m $m %

Cash and cash equivalents 12.7 13.4 -5.2%

Investments 1.8 0.8 125.0%

Receivables 20.8 13.7 51.8%

Inventory 19.4 17.6 10.2%

Property, plant and equipment 45.1 49.1 -8.1%

Taxation 0.8 0.8 0.0%

Total Assets 100.6 95.4 5.5%

Payables 18.4 12.2 51.1%

Borrowings 12.0 5.1 135.3%

Taxation 3.4 1.4 138.9%

Total Liabilities 33.8 18.7 80.7%

Shareholder Equity 66.8 76.7 -12.9%

Net Asset Value per share (cents) 50 57 -13.1%

Net Cash ($m) 0.6 8.3 -92.8%

Gearing (Net Cash to Equity in %) 0.9 10.8 -91.7%

Return on Total Assets (%)* -1.51 -10.8 86.1%

Return on Invested Capital (%)* 4.3 -6.8 163.2%

-15%-10%-5%0%5%10%15%20%25%30%35%

-15.0-10.0

-5.00.05.0

10.015.020.025.030.035.0

H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 H2 15 H1 16 H2 16

Total Debt Net (Cash) debt to Equity (%)

Early movers on costs however margins impacted in H2

US$mUS$m

GROSS PROFIT AND MARGINS EBITDA AND MARGINS

• Operating margins continue to track around long term trend levels despite significantly lower revenue in recent years˗ FY 2016 GP margin of 28.2% (FY 2015: 28.4%)˗ FY 2016 EBITDA margin of 14.0% (FY 2015: 12.8%)

• Higher than budgeted costs associated with improving market conditions as we prepared for increased activity, impacting:˗ Rig repairs and maintenance˗ Freight, customs & transport˗ Travel & accommodation

• Non recurring charges impacting the results:˗ Accelerated rig disposals $1 million˗ Prior year tax adjustments $1.3 million

• Continued focus on cost management 24

36.3%33.3%

35.2%31.4%

28.1%

23.3%

34.5%32.0%

34.5%

22.4%

30.5%

26.3%

0%

5%

10%

15%

20%

25%

30%

35%

40%

0.0

5.0

10.0

15.0

20.0

25.0

30.0

H1 11 H2 11 H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 H2 15 H1 16 H2 16

GP (USDm) GP (%) Avg Margin

26.5%

20.2%18.5%

8.1%

23.3%

17.2%

20.3%

5.0%

17.5%

11.2%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

0.0

5.0

10.0

15.0

20.0

25.0

H1 12 H2 12 H1 13 H2 13 H1 14 H2 14 H1 15 H2 15 H1 16 H2 16EBITDA (USDm) EBITDA (%) Avg Margin

2016 Final Dividend

25

Strongbalance sheet

Investment

Return excess to

Shareholders through

dividends

• FINAL DIVIDEND DECLARED FOR 2016 of US 1.0cps

• Aggregated dividend of 4cps paid in 2016*

• Final dividend lower than previous period, due to:- Higher capital expenditure requirements- Investment in A2 Global Ventures (MS Analytical)

• We will continue our disciplined approach to capital management – we remain committedto a strong balance sheet

DIVIDEND TIMETABLE

March 16, 2017 FY 2016 Results release & dividend declaration

April 27, 2017 Ex-dividend date

April 28, 2017 Record date

May 19, 2017 Payment date

* consisting of a final dividend for the year ended 31 December 2015 of 2.5c per share paid on 12 May 2016 and an interim dividend for the six month period ended 30 June 2016 of 1.5c per share paid on 14 October 2016.

2.57

3.89

5.92

2.66 2.84

1.82

0.70 0.940.52

0.80

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Developing People, Delivering Safety • Healthy safety performance

˗ 3 LTI’s incurred˗ LTIFR remained influenced at 18.33 days per month over a 365 day reporting period

from 1 recordable fatality in November 2015 (Pit floor collapse resulting in loss of rig and operator)

• Improved understanding of unsafe behaviour˗ Safety Risk Leadership Walk’s by management with front line directly correlates

unsafe behaviour to incident causes

• Extensive investment in safety and general training ˗ Revised and simplified integrated HSEQ management system finalised and

commenced roll out˗ Project Management team focus on Class 1 risks and risk register management

• Achievement of a number of safety records including: ˗ Tanzania, Mwanza Support Facility - achieved 8 years in January 2016˗ Mauritania, Tasiast Project - achieved 5 years in February 2016˗ Botswana, Cupric Project - achieved 1 year in March 2016˗ Tanzania, Geita Gold Mine - achieved 9 Years in April 2016

• Leadership Development remains key˗ 1:1 coaching with PM’s˗ Supervisor application of risk management tools

LTI FREQUENCY RATE TREND (2007 - 2016)

PROGRESSIVE ALL INJURY FREQUENCY RATE (2007 - 2016)

* MTI/LTI per 200,000 man hours worked

0.24

0.33

0.18

0.1

0.29

0.41

0.090.09

0.13

0.30

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Freq

uenc

y ra

te o

f inj

urie

s pe

r 200

,000

ho

urs

wor

ked

* LTI per 200,000 man hours worked

2016 Contract Wins

27

HIGH SUCCESS RATE ON TENDERS SUBMITTED … CONTINUITY INTO 2017

Egypt

• Commenced March 2016

• Drilling in 2017

Mauritania

• Commenced May 2016


Mauritania

• Commenced September 2016


Tanzania

• Commenced April 2016


Serbia

• Commenced August 2016

• Drilling continued into 2017

Mali



Kenya

• Commenced September 2016


Egypt

• Commenced October 2016


Mining Resources Limited

Ethiopia


• Drilling concluded in 2016

Tanzania

• Commenced December 2016

• Drilled in 2017

Quality Partners & Projects

28

QUALITY CLIENTS

DEVELOPMENT & PRODUCTION FOCUS

QUALITY ASSETS

• Exposure to major and mid tier mining houses with strong balance sheets, quality assets &positive cash flows

• Majors and Mid-Tiers contributed 89% of 2016 revenue

• Targeting low cost producers , long life assets and expansion opportunities

• Working on top tier assets including Tasiast (Kinross), Sukari (Centamin), Geita (AngloGoldAshanti), North Mara (Acacia)

• Demonstrable history of increasing our service offering as the mine develop (development,grade control, blast hole, underground)

• Continued high exposure to development (brownfield) and production drilling, contributing87% of 2016 revenue

• Provides higher relative stability and visibility to revenues as drilling activities supported byproducing asset cash flows

52% 53%

33%

63%73%

58% 57% 53%

35%

35%41%

53%

30%23%

39% 41%41%

54%

13.0%6.0%

14.0%7.0% 4.0% 3.0% 2.0% 6.0% 11.0%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2008 2009 2010 2011 2012 2013 2014 2015 2016

Majors Mid-Tiers Juniors

6%

33% 33%22% 23%

39%

57%

77% 75%70%

54% 51%66% 64%

56%

38%

17%12%

24%13% 14% 7% 7%

3% 5% 6%8%

2% 5% 6%2% 5%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

2008 2009 2010 2011 2012 2013 2014 2015 2016

Production Brownfields Greenfields Energy Underground

Note: Above charts are based on revenue splits

Management & Board

29

EXTENSIVE INDUSTRY EXPERIENCE, SOLID COMPLEMENT OF SKILLS

• Over 20 years’ experience in finance industry• Co-founder of Capital Drilling• Previously Executive Director and Head of Asian Equity Syndication

and Corporate Broking at Macquarie Bank (HK)

Jamie BoytonExecutive Chairman

• Over 30 years’ experience in the mining industry in Africa and Australia

• Co-founder of Capital Drilling• Previous experience includes 6 years as operations/general

manager for Stanley Mining Services Tanzania (Layne Christensen)

Brian RuddExecutive Director

• Over 45 years’ experience in the natural resources sector

• Ex President/CEO of Adastra• Ex Merrill Lynch Global Co-head

of Mining Investment Banking• NED for several AIM/ASX/TSX

mineral companiesTim ReadSenior NED

• Over 35 years’ experience in mining

• 16 years at Barrick Gold; Executive VP of Exploration and Corporate Development

• Ex NED for Highland Gold, now Namakwa Diamonds & NED of Yamana GoldAlex Davidson

NED

• Over 25 years’ experience co-founding numerous development companies, with a focus on the resources, oil and gas, mining services and agribusiness sectors

• Previously Executive Chairman and co-founder of MirabelaNickel Ltd (ASX 200)

Craig BurtonNED

NON-EXECUTIVE

EXECUTIVE

Glossary

30

ARPOR Average Revenue Per Operating Rig

CAPEX[Capital Expenditure]

Cash used on acquisition of property plant and equipment less proceeds on disposals of property plant and equipment

EBIT Earnings (Loss) Before Interest and Taxes [Equal to profit (loss) from operations per the financial statements]

EBITDA Earnings (Loss) Before Interest, Taxes, Depreciation and Amortisation

EPS Earnings (Loss) Per Share

Enterprise value Market capitalisation + Debt - Cash

Free Cash Flow Operating cash flow (as defined above) less capital expenditure

Group, Company Capital Drilling and its subsidiaries

KPI Key Performance Indicator

HSSE Health, Safety, Social and Environment

LTI Loss Time Injury

LTM Last Twelve Months

Operating Cash flow Profit or loss after tax adjusted for non-cash items +/- the net change in working capital

Operating Cash flow Margin Cash generated from operations / Sales

MTI Medical Treatment Injury

NET CASH (DEBT) Cash and cash equivalents less short term and long term debt

NPAT Net profit (loss) after tax per the financial statements

(Headline) Revenue Average fleet size x Utilisation x ARPOR

Return on capital employed (ROCE %) LTM EBIT / (Average total assets – Average current liabilities)

Return on Invested Capital (ROIC) LTM NOPAT / Average invested capital

Return on Total Assets (ROTA %) LTM EBIT / Average total assets

Total assets Current assets plus non-current assets

The following words used in the presentation have the following meaning:

Company Contact Details

31

CAPITAL DRILLING LIMITED

Jamie BoytonExecutive [email protected]

Mauritius9th Floor, The COREÉbène CyberCityMauritiusTelephone: +230-464 3250www.capdrill.com

UK BROKERS

finnCap60 New Broad Street, London EC2M 1JJTelephone: +44 20 7647 2800 Christopher [email protected]

Tamesis Partners LLP New Liverpool House, 3rd Floor,15 Eldon Street, London EC2M 7LDTel: +44 20 3882 2868Richard [email protected]

UK PUBLIC RELATIONS

Buchanan107 Cheapside, London EC2V 6DNTelephone: + 44 20 7466 5000 Bobby Morse [email protected]

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